It was supposed to be a year of triumph for AT&T CEO Randall Stephenson’s growth through diversification strategy, but the Trump administration had other ideas. Even though subscribership had slipped at DirecTV, Stephenson’s earlier diversification play, antitrust regulators sued AT&T to block its acquisition of entertainment power Time Warner. A federal judge ruled in June that the merger could go forward, but the Justice Department has filed to appeal the decision. Overall, revenue declined 2% as unlimited wireless data plans and a shrinking pay TV audience cut into sales growth, despite gains from AT&T’s new Internet TV service and strong Latin American expansion.
Looking for leads, investment insights, or competitive intelligence?
News about AT&T
Expect a text message from President Donald Trump on Oct. 3. Not on Sept. 20
AT&T, Comcast, YouTube TV and others are hiking the monthly costs of video streaming.
Must-read business news, delivered every morning.
Better reception is on the way.
This is your Data Sheet newsletter for Thursday, August 9, 2018.